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Malaysia KLCI is up 0.1% at 1619.15,
tracking gains in Asian stock markets on the back of the ECB's bond purchase
program. Still, trading remains choppy and the benchmark index is struggling to
hold on to gains as investors are taking profit on rallies.
"The local index
will now be in a major downtrend correction phase" as prices fell below key
moving averages Thursday, says Maybank IB.
"Due to the Dow?s large rise, there
could be a gap-up move for the KLCI" but there could still be volatility and
sustainability issues locally, it says, adding that investors should sell on
rallies; support is tipped at 1613 followed by 1591.
Market breadth is positive
at 314 gainers vs 155 losers with 355.8 million shares changing hands.
KNM Group
(7164.KU) is up 4.6% MYR0.69 following a plan to list its German unit on the
Singapore Exchange while WCT (9679.KU) is up 3.9% at MYR2.64 after the company
announced issuance of bonus shares.
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